Getting "failed to parse the data value" after editing any merchant information

Getting error when user update merchant ID

Steps:
1. Create a merchant
2. Edit say merchant ID and click on save button

Actual Result : Getting below mentioned error

Error saving merchant

Can not deserialize value of type java.util.Date from String "2017-08-22": not a valid representation (error: Failed to parse Date value '2017-08-22': Unparseable date: "2017-08-22") at [Source: java.io.ByteArrayInputStream@77aba4e8; line: 1, column: 197] (through reference chain: com.thesearchagency.sapi.data.Merchant["contact"]->com.thesearchagency.sapi.data.User["createdDate"

Expected Result : Merchant info should update successfully without any errors.

Please check attached screenshot and also tomcat log